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Show Appendix C of this report consists of a tabulation of contract awards by the United States Bureau of Reclamation for the Colorado River Storage Project and participating projects. B. FISCAL DATA-COLORADO RIVER STORAGE PROJECT Section 6 of the Act authorizing the construction and operation of the Colorado River Storage Project and participating projects (Act of April 11, 1956, 70 Stat. 105) stipulates that "On January 1 of each year the Secretary" of the Interior "shall report to the Congress for the previous fiscal year. . . upon the status of the revenues from, and the cost of constructing, operating, and maintaining the Colorado River storage project and the participating projects." Appendix F of this report consists of the THIRD ANNUAL REPORT ON THE COLORADO RIVER STORAGE PROJECT AND PARTICIPATING PROJECTS of the Secretary of the Interior to the Congress of the United States for the fiscal year ending June 30, 1959. INTEREST RATE By an act approved June 27, 1960 the Congress amended the authorization for the Colorado River Storage Project, P. L. 485 in regard to the interest rate. The amendment was made by Section 9 of P. L. 86-529, (Norman Project Authorization) which is quoted below. Public Law 86-529 86th Congress, S. 1892 June 27, 1960 AN ACT To authorize the Secretary of the Interior to construct, operate and maintain the Norman project, Oklahoma, and for other purposes. Sec. 9. Section 5 (f) of the Act entitled "An Act to authorize the Secretary of the Interior to construct, operate, and maintain the Colorado River storage project and participating projects, and for other purposes," approved April 11, 1956 (70 Stat. 109), is amended effective June 1, 1960, to read as follows: "The interest rate applicable to each unit of the storage project and each participating project for purposes of computing interest during construction and interest on the unpaid balance shall be determined by the Secretary of the Treasury, as of the beginning of the fiscal year in which construction is initiated, on the basis of the computed average interest rate payable by the Treasury upon its outstanding marketable public obligations, which are neither due nor callable for redemption for fifteen years from the date of issue." Approved June 27, 1960. 39 |